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Downtown Condo Prices Are Rapidly Increasing
Episode 38
Published 5 years ago
Description
Condos in downtown Vancouver were one of the few to experience a price drop during Covid. While detached homes and townhomes saw double digit price increases, downtown condos actually dropped in price by 14%. Pricing hit bottom in November and have been rapidly increasing ever since, up 7% over just 3 months. Inventory dropped from 1,200 to 700 and listings that sat on the market for months are now seeing multiple offers. We dig into what is causing this sudden increase in interest and how long we expect it to last.
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Dan Wurtele, PREC, REIA
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Ryan Dash PREC
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